Technical Analysis: Pound Sterling sees downside near 1.2500
The Pound Sterling declines towards the psychological support of 1.2500 on risk-aversion mood. The GBP/USD pair dips to the 200-day Exponential Moving Average (EMA) at 1.2570, which remained a major support before the release of the hot US CPI data. The Cable could witness a sharp downside if it decisively breaks below the 1.2500 support.
The 14-period Relative Strength Index (RSI) hovers near 40.00. If it drops below this level, bearish momentum will trigger
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